Genworth LTC 7037 Long-Term Care Insurance Policy

The Genworth LTC 7037 policy is designed to provide financial assistance for long-term care needs, such as help with daily activities or medical supervision, when individuals can no longer care for themselves. It offers peace of mind by covering a range of services to support policyholders in their time of need.

The Genworth Long Term Care policy offers extensive benefits, including up to $300 per day for nursing facility care, $210 per day for residential care, and 75% of the nursing facility maximum for home care services. It includes immediate home care coverage with a waiver of the elimination period, and a 90-day elimination period for other services. Additional features include 60 days of bed reservation, 30 days of respite care annually, hospice care, and 5% compound benefit increases.

Common Scenarios for Utilizing Benefits
1. Post-Surgery Rehabilitation: After a minor surgery like a knee replacement, a policyholder might use the Home and Community Care Benefit to receive physical therapy at home. The Waiver of Home Care Elimination Period ensures immediate coverage without a waiting period.

2. Temporary Caregiver Absence: If a primary caregiver needs a short break, the Respite Care Benefit can cover up to 30 days of professional care, ensuring the policyholder continues to receive necessary assistance.

3.Recovery from Illness: In the event of a severe but non-life-threatening illness such as pneumonia, the policyholder may use the Nursing Facility Benefit for a short stay in a rehabilitation facility to regain strength before returning home.

To get your long-term care (LTC) benefits, you need to meet certain conditions. Here’s what you need to know, explained simply:

Need Help with Daily Activities:

You qualify if you need assistance with at least two of these daily tasks:
Bathing: Can you wash yourself without help?
Dressing: Can you put on and take off clothes on your own?
Eating: Can you feed yourself?
Toileting: Can you use the toilet without assistance?
Transferring: Can you move from a bed to a chair by yourself?
Continence: Can you control your bladder and bowel movements?
Example: Imagine you have trouble getting dressed and need help eating. You could qualify for benefits because you need assistance with two daily activities.

Severe Cognitive Impairment:

You also qualify if you have a serious memory or thinking problem, like dementia, and need regular supervision to stay safe.
Certification and Plan of Care:

A licensed healthcare professional needs to confirm your condition and create a plan to manage your care.
Example: If you have dementia and need someone to watch over you to ensure your safety, and a doctor certifies this, you would be eligible for LTC benefits.

By meeting these criteria, you can access the support you need through your long-term care benefits. If you think you might qualify, talk to your healthcare provider to get started.